Three things are imperative to check:
1) Gearbox, if the oil is clean, that's good, if there's none it's been abused (bad) or the seals are gone (typical) and need to be replaced. The big thing is to look for brass smeared on the steel worm, if there's any deposited or the worm has gotten hot, the parts that are no longer available are toast.
2) Commutator, if one bar is burnt or lifted, there's an open or it needs a new commutator, either situation requires the armature to be rewound for almost the cost of a brand new worm saw. Definitely not worth it.
3) Body & shoe, has it been dropped? A shoe can possibly be bent back to being flat, the cast aluminum body is susceptible to having parts broken, if any aluminum is bent, it will break when trying to bend it back cold!
$50 is a meh deal, we need pictures.
Regarding the commutator, look at the arc behind both brushes, it should be minimal and uniform across the depth of the brush.